On 18 August, Santumas Shareholdings plc published the full-year results covering the financial year ended 30 April 2016.
During the period under review, the Company registered a significant increase in revenues to €2.48 million (2015: €0.69 million) reflecting unrealised gains in the fair value of the Company’s investment properties totaling €1.36 million (2015: nil) and a notable increase in the fair values of its financial assets of €0.71 million (2015: €0.31 million). Furthermore, investment income (which mainly comprises dividend income) improved by 7.2% to €0.41 million (2015: €0.38 million).
Administrative expenses dropped by 37.7% to €0.11 million as the one-time costs related with the de-listing and simultaneous re-listing of Santumas Shareholdings as a property company in October 2014 were not repeated during the financial year ended 30 April 2016.
Overall, Santumas Shareholdings plc reported a pre-tax profit of €2.37 million (2015: €0.52 million). After taking into consideration a tax expense of €0.25 million, the net profit of the Company of €2.14 million translates into an earnings per share of €1.054.
The Statement of Financial Position shows a 27.8% increase in total assets to €10.5 million (2015: €8.2 million) reflecting the material uplift in the Company’s investment properties and financial assets. Meanwhile, total liabilities advanced by 29.9% to €0.65 million (2015: €0.50 million) largely on account of a higher deferred tax liability (+40.7%). Accordingly, the Company’s equity base grew by 27.7% to €9.89 million (2015: €7.75 million) which translates into a net asset value per share of €4.908 compared to a post-bonus adjusted figure of €3.844 as at 30 April 2015.
Dividend & Annual General Meeting
The Directors did not recommend the payment of a final dividend. Meanwhile, the Company’s Annual General Meeting will be held on Friday, 14 October 2016.